Attracting fortunes from elsewhere sometimes leads to painful situations for people here. The canton of Zug, known for its economic attractiveness, sees nearly 4,000 people leave each year, often due to the glaring lack of accessible housing, indicates the SRF.
This is because rents are among the highest in Switzerland, and finding accommodation in Zug is quite a challenge. The fault is a vacancy rate of 0.42% in 2023. This is the worst national result. Zug, Geneva, same fight.
Consequence: the few apartments available are generally reserved for an elite: expatriates and newcomers occupying prestigious positions in the numerous multinationals in the region. Meanwhile, the local population finds itself having to look elsewhere.
“I was born in Zug and lived there for more than 50 years,” says Ivo Zimmermann. With his wife, they sought in vain to become owners there. “We didn’t find anything,” he explains. Result: seven years ago, the couple left Zug for Sins, in the canton of Aargau. The town has become a popular refuge for former Zougois, thanks to its proximity and good transport connections. A district there is even nicknamed the “Zuger Hügel” (the hill of Zug).
Politically, the exodus of residents is a bomb. The left points the finger at the canton’s low taxes, which attract big fortunes and increase pressure on the real estate market. But the Council of State, much further to the right, defends another path to creating housing. “We want to simplify building regulations, speed up processes and make them more flexible,” concludes its president, Silvia Thalmann.
